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OPEC and allies announced a new round of voluntary cuts on Nov. 30 to be made in the first quarter of 2024. Iran, Libya, and Venezuela are exempt from OPEC output agreements. The output target is announced by the countries making voluntary cuts, or as announced by OPEC. A survey finds that OPEC oil output rose by 90,000 bpd in February, yet six out of nine countries have taken on production cuts. 

OPEC oil output rises by 90000 bpd in February, survey finds

OPEC and allies announced a new round of voluntary cuts on Nov. 30 to be made in the first quarter of 2024. Iran, Libya, and Venezuela are exempt from OPEC output agreements. The output target is announced by the countries making voluntary cuts, or as announced by OPEC. A survey finds that OPEC oil output rose by 90,000 bpd in February, yet six out of nine countries have taken on production cuts. 

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